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Crypto Pulse Daily: China Turns Risk-Off, Orders Treasury Sales as Bitcoin Loses Momentum
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CoinGape Newsletter
February 09, 2026
The much-anticipated MegaETH mainnet is set to go live today, marking a crucial milestone for the Ethereum Layer 2 blockchain. Despite the mainnet launch, reports reveal that the MEGA token launch will not happen until certain milestones are reached.
Bitcoin declined today after China ordered banks to reduce US treasury holdings. This action reflects risk-off sentiment as the Chinese central bank increases gold purchases and reduces exposure to risk assets.
 Bitcoin and XRP prices showed stability on Monday as China advised its banks to reduce exposure to US Treasuries. Bitcoin price hovered around $70,000, recovering from last week’s downturn driven by global financial concerns. Over the weekend, XRP moved steadily, around the $1.40 mark. Ethereum had also been robust as it stood over $2,000. The wider crypto market was cautiously optimistic, responding to tensions of the geopolitical environment. |  Ethereum price is aiming for recovery this week, following a sharp downturn last week. After plunging over 8% and touching a low of $1,747, its weakest level since May 6, 2025, Ethereum bounced back to around $2,080. The next meeting on stablecoins at the White House on February 10 is attracting close attention of traders who are looking forward to possible market-shifting indications. |